Dear friend,
We’re all feeling the effects of the coronavirus outbreak. Whether it’s worry about friends or relatives, or disruption to plans, now is the time to look out for one another.
For countries in the global south with mounting unfair debts the impacts could spell disaster. Their cost of borrowing has already gone through the roof due to the economic turmoil caused by coronavirus, and they are earning less for the products they sell on world markets, products on which their economies depend.
Over the next few weeks, we have an opportunity to make a real difference for them.
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World leaders will be meeting next month to discuss how to respond to coronavirus at the annual meeting of the International Monetary Fund, the organisation that steps in when countries are in debt distress.
They have the opportunity to introduce some key measures to make sure the world’s least well-off countries don’t face economic ruin because of the crisis:
- cancel unfair debts
- and help countries in trouble to restructure,
This will only happen if enough of us call on them to act.
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Thank you for everything you do.
In solidarity,
Sarah-Jayne Clifton
Director
Jubilee Debt Campaign
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